The benefits of Prime Salary Account include higher transaction limits, free Liberty Debit Card with daily shopping limit of Rs. 5 Lakhs, upto 20% off at partner restaurants, 1 complimentary airport lounge access per quarter and a personal accident insurance cover of Rs. 5,00,000. If you want to know more about the Prime Salary Account, below The interest rate charged on top up loans is relatively lesser than personal loans. The rate of interest charged on the top-up loan is slightly higher than the interest charged on home loans. The processing fee charged on top up loans is up to 2.5 percent. However, when compared to personal loans, top up loans are very cheap. Features: Housing loan upto INR 30 lakhs (for purchase, self construction, plot purchase + construction, extension, repair or renovation of a dwelling unit) Balance Transfer of existing home loan at attractive interest rate and Top up thereon. Flexible Tenure of upto 30 years for home loan and 15 years for Top-up on existing loan. Yes, you have an option to switch to a lower rate of interest on MCLR by paying a nominal switch fee. You can do so by visiting your nearest Loan Centre. Please Note: a. Both applicant and co-applicant must visit the Loan Centre for interest rate conversion with their Signature Photo ID proof. b. Axis bank loan rates According to the Axis Bank website, overnight and one-month MCLR is 8.70 per cent from 8.60 per cent. Axis Bank three-month MCLR is at 8.80 per cent; six-month at 8.85 per cent; one-year at 8.90 per cent; two-year at 9 per cent; and three-year at 9.05 per cent. The Home Loan floating rate will change when either of below rate changes: Repo Rate change on the reset date for loans sanctioned from 1st October’19; Axis Bank's Marginal cost of lending rate (MCLR) change on the reset date for loans sanctioned from 1st April, 2016; Axis Bank's Base Rate (BR) for loans sanctioned from 1st July, 2010 As the Reserve Bank of India once again raised the repo rate by 50 basis points (bps), to 5.90% in September 2022, home loan interest rates have been rising since May and will continue to do so. Loan Amount Loan Amount in between 50k to 5Cr. 0 0 50K 50K 5Cr. Tenure (months) Tenure Months in between 12 to 240. 0 0 12 12 240. Interest Rate Interest Rate in between 8 to 16. 0 0 8% 8% 16%. Equated Monthly Installment (EMI) will be 4,349. Get a CallBack. 5) Choosing the right lender and considering Home Loan insurance. Some banks may offer lower interest rates, but may take time to process the loan. While some others may offer better services and fast processing and disbursement of the loan. Weigh the pros and cons of different lenders and select based on your need. As exhibited by the table above, the total interest outgo under ‘QuikPay Home Loan’ stands reduced to Rs lakh 46.19 (compared to 57.96 lakh in case of a typical regular home loan). Therefore, you stand to gain by saving Rs 11.77 lakh even with a marginally higher rate of interest. You can also partly prepay the home loan. 2chDAs6.